Auto refinancing asap

[Anonymous]

I'm looking to refinance my 2010 malibu.  I got my loan when my credit was at a 520 so i have a 26% interest rate.  I have paid on the loan for 2 years now at 425 a month.  My credit is now at 657 and I would love to refinance for a lower rate as i still owe $8200 and I still have 2 years left on the loan.  I just need a lower payment. My income has gone down and it's a struggle with a payment this high.  Capital one denied me and im not sure what other good companies there are out there. Any help would be appreciated. Thanks

[jdxprs1]

Are you a member of a credit union?

[Anonymous]

Yes I am but when I talked to them last year they said they wouldn't be able to approve a line due to the year and price of the car

[fltireguy]

That's probably going to be the issue - the book value will be way way below what you will need to pay off that high interest loan

[Appleman]

Time to emply some creative thinking.

Do everything you can to keep making those payments on time.

I would check with Prosper or Lending Club and use the Soft Pull option to see if you qualify. Even if you come in at 20% interest it may give you some breathing room.